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Polaris Market Research

The global alcoholic beverages market size is expected to reach USD 2,797.05 billion by 2028 according to a new study by Polaris Market Research. A rising young–adult demographic, increasing disposable income, growing consumer preference for premium products have emerged as the major growth driver for the global market. In addition to this, the availability of wide distribution channels such as online sales, outlets in airports, and a substantially growing tourism sector are giving a strong boost for the overall market growth. Moreover, ease in lockdown measures in COVID-19 affected countries are reopening positive avenues for the retailers, thereby is expected to propel the market growth in the near future.

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Key Highlights of Alcoholic Beverages Market

• In terms of type, the spirits segment accounted for a significant share in the alcoholic beverages market. A substantial rise in alcohol consumption in the form of spirits is experienced in recent times. Growing demand for premium whiskey is anticipated to drive growth for this segment in the coming years.

• Based on application, the supermarket/hypermarkets segment dominated the global market and is expected to witness increased stability in terms of demand and a surge in return on investment. Rapid urbanization and an increase in the number of supermarkets in major economies are supporting the segment’s growth.

• Leading suppliers are bringing new varieties in spirits and beer to attract existing consumers as well as attract new consumers. After relaxation in lockdown, the industry is anticipated to experience lucrative opportunities globally.

Regional Analysis for Alcoholic Beverages Market :

Alcoholic beverage consumption in North America is predicted to rise, owing to the increasing young–adult population and increased consumption of high-quality alcoholic beverages in the region. On the other side, rising markets such as China and India are projected to witness exponential growth in demand for alcoholic drinks. The growing trend of alcohol consumption in the young adult population and rise in inclination towards the western culture is predicted to positively influence the regional market in the Asia Pacific.

Competitive Insight

The industry is fragmented with the presence of numerous players operating in the industry. Industry players are forming alliances through new product launches, mergers & acquisitions, expansion, and strategic collaboration. For instance, in 2020, Constellation Brands company had acquired Digitally-Native Wine Brand, Empathy Wines. Hence, this acquisition will affect the growth of the industry. Remy Cointreau, The Wine Group, Asahi Group Holding Ltd, Treasury Wine Estates, Thai Beverage Public Co., Tsingtao Brewery Co Ltd., Anheuser-Busch, Brown-Forman, Carlsberg Breweries A/S, China Resources Beer (Holdings) Company Limited, Diageo, Pernod Ricard, Remy Cointreau, SABMiller, Bacardi, Accolade Wines

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Polaris Market Research has segmented the alcoholic beverages market report on the basis of type, distribution channel, and region:

 Alcoholic Beverages, Type Outlook (Revenue – USD Million, 2016 – 2028)

• Beer
• Wine
• Spirit
• Other

Alcoholic Beverages, Distribution Channel Outlook (Revenue – USD Million, 2016 – 2028)

• Super/Hypermarkets
• On-trade
• Specialist Retailers
• Convenience Stores

Alcoholic Beverages, Regional Outlook (Revenue – USD Million, 2016 – 2028)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Netherlands
• Austria
• Asia Pacific
• China
• India
• Indonesia
• Japan
• Australia
• South Korea
• Latin America
• Argentina
• Brazil
• Mexico
• Middle East & Africa
• Israel
• Saudi Arabia
• South Africa
• UAE

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Other Studies Relevant to this industry: https://www.polarismarketresearch.com/industry/Food-and-Beverages

About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to our customers

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